PFI Contracts 'costing departments 12 times more than they raise'

[I1L2T3]

Oh well, buy now let our children and grandchildren pay later was nice whilst it lasted, but it was bound to end sooner or later.

 

 

It hasn't ended

[saunaman]

Not sure I fully understand PFI , so correct me if I'm wrong , but - let's say I found a few million quid down the back of the settee and decided to invest it in a PFI scheme would I get a long-term rate of return of anywhere between 169 and 1100% which would be funded by the mugs , sorry ,taxpayers of this country ?

And I could keep this money to spend on anything I wanted , despite the fact that a lot of front-line public staff are losing their jobs ? Could live with that .

But if I could only cobble together about £100 from my penny jar(s), then I'd have to stick it in a savings account with pennies for interest ?

Is this what people mean when they say "the rich are getting richer"? Please can someone clarify ?

[Thorpist]

I read many arguments and articles about PFI and each one declares it a ridiculous way to carry on.

I consider myself a bit of a numpty about PFI but it seemed obvoius to me a long time ago that it was a license to print money for the knowlegeable few.

 

Is there anyone out there who can put up the argument for PFI or at least give links to such.

[ChrisT70]

I read many arguments and articles about PFI and each one declares it a ridiculous way to carry on.

I consider myself a bit of a numpty about PFI but it seemed obvoius to me a long time ago that it was a license to print money for the knowlegeable few.

 

Is there anyone out there who can put up the argument for PFI or at least give links to such.

 

the theory is that it keeps the capital spend off the govts balance sheets and is long term, so it can be hidden away for future govts to worry about. its supposed to be open book with a set profit margin and terms for the contractors supplying the build, what happens in reality is they are all over specified, and every single minor chargeable item over and above is hammered to maximise profit.

its a 30yr mortgage we are all paying with private companies taking the proft yet again, rather than the govt loaning the money and doing it themselves.

[green]

It also reported recently that the Tories are lining up new PFI deals.

 

They don't have much choice really. Having banged on about Labour's profligacy it's going to look bad if they actually start putting project spend on the books.

 

The Tories have lots of choices to achieve infrastructure new builds. It should print the money for these schemes directly rather than through our insolvent banks whom then charge us ridiculous interest rates.